Minnesota Law Opens Crypto Custody To Banks, Credit Unions

Minnesota has become the latest state to grant banks and credit unions the legal authority to offer cryptocurrency custody services, a move that proponents say ends years of regulatory ambiguity that kept institutions on the sidelines of a market now worth trillions.

Governor Tim Walz signed HF 3709 into law. The legislation takes effect August 1, 2026. The law permits state-chartered banks…